Apple to Samsung: Hey, Nice Chips

South Korea's Samsung Electronics Co Ltd will be the main supplier of processors powering Apple Inc's next iPhone, Maeil Business Newspaper reported on Monday, citing unidentified sources in the semiconductor industry.

Samsung will be responsible for around 75 percent of the chip production for the next iPhone, the South Korean newspaper said.

The newspaper did not say how much the contract is worth and what other company will be supplying Apple. Samsung will make the chips from its factory in Austin, Texas, according to the report.

A Samsung spokeswoman said the company does not comment on market speculation. Apple could not be immediately reached for comment.

(Reporting by Se Young Lee; Editing by Ryan Woo)